U.S. Soybeans and Products Supply and Use (Domestic Measure) 1/
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Item 2019/2020 2020/2021
prev Jun 11 prev Jun 11
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SOYBEANS Million acres
Area
Planted 76.1 76.1 83.5 * 83.5 *
Harvested 75.0 75.0 82.8 * 82.8 *
Bushels
Yield per harvested
acre 47.4 47.4 49.8 * 49.8 *
Million bushels
Beginning stocks 909 909 580 585
Production 3,557 3,552 4,125 4,125
Imports 15 15 15 15
Supply, total 4,481 4,476 4,720 4,725
Crushings 2,125 2,140 2,130 2,145
Exports 1,675 1,650 2,050 2,050
Seed 97 97 100 100
Residual 4 4 35 35
Use, total 3,901 3,891 4,315 4,330
Ending stocks 580 585 405 395
Avg farm prc ($/bu) 2/ 8.50 8.50 8.20 8.20
Million pounds
SOYBEAN OIL
Beginning stocks 1,775 1,775 1,880 1,940
Production 4/ 24,480 24,590 24,685 24,860
Imports 375 375 400 400
Supply, total 26,630 26,740 26,965 27,200
Domestic Disappearance 22,200 22,100 23,000 23,000
Biodiesel 3/ 7,500 7,400 8,000 8,000
Food,Feed & Other
Industrial 14,700 14,700 15,000 15,000
Exports 2,550 2,700 2,100 2,200
Use, total 24,750 24,800 25,100 25,200
Ending stocks 1,880 1,940 1,865 2,000
Avg farm prc (c/lb) 2/ 28.50 28.50 29.00 29.00
Thousand short tons
SOYBEAN MEAL
Beginning stocks 402 402 375 375
Production 4/ 49,973 50,323 50,225 50,525
Imports 550 600 400 400
Supply, total 50,925 51,325 51,000 51,300
Domestic 37,100 37,500 37,500 37,800
Exports 13,450 13,450 13,100 13,100
Use, total 50,550 50,950 50,600 50,900
Ending stocks 375 375 400 400
Avg farm prc ($/s.t) 2/ 300.00 295.00 290.00 290.00
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Note: Totals may not add due to rounding. Reliability calculations at end of
report. 1/ Marketing year beginning September 1 for soybeans; October 1 for
soybean oil and soybean meal. 2/ Prices: soybeans marketing year weighted
average price received by farmers; oil simple average of crude soybean oil
Decatur; meal simple average of 48 percent protein Decatur. 3/ Reflects
only biodiesel made from methyl ester as reported by the U.S. Energy
Information Administration. 4/ Based on an October year crush of 2 140
million bushels for 2019/20 and 2 145 million bushels for 2020/21. *Planted
acres are reported in the March 31 2020 Prospective Plantings report.
Harvested acres are based on the 5-year planted-to-harvested ratio. The
projected yield is based on a weather-adjusted trend model and assumes normal
weather.
Write to Linda Rice at csstat@dowjones.com